Multinational conglomerate General Electric Company (
) said Friday that its first quarter profit fell 32% from last
year, but noted it saw "encouraging" economic signs during the
The Fairfield, CN-based company reported first quarter net
income of compared with $2.75 billion, or 26 cents per share, in
the year-ago period. Excluding one-time items, earnings from
continuing operations were 21 cents per share.
Revenue fell 5% from last year, to $36.6 billion.
On average, Wall Street analysts expected a smaller profit of 16
cents per share, albeit on higher revenue of $37.1 billion.
GE shares were mostly flat in premarket trading Friday.
The Bottom Line
We have been recommending shares of GE since Sept.16, when the
stock was trading at $16. The company has a 2.05% dividend yield,
based on last night's closing stock price of $19.50.
General Electric Company (
) is a "recommended" dividend stock, holding a Dividend.com DARS™
Rating of 3.5 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
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